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Review on the spot Trading Day of scrap Copper on July 8
Jul 8,2019 17:43CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 8: Shanghai Copper main 1909 contract opened in the early morning market at 46430 yuan / ton. Shanghai copper remained low concussion. In the morning, there is still a strong price sentiment in the market, the holder quoted 80 to 130 yuan / ton, the market purchase performance is cautious, it is difficult to close a deal, good copper and flat copper holders give up the high price, appear the situation of active price reduction, Pingshui copper adjustment to Shengshui 50 60 yuan / ton, good copper quotation to Shengshui 100 yuan / ton, downstream market is still rare, wet copper quotation with the market slightly reduced to 30 yuan / ton discount to 10 yuan / ton. Spot consumption is weak, high rising water to inhibit market transactions, holders in order to actively reduce shipments, there are still some traders in the market price replenishment, but the purchase volume has shown a significant decline.

Guangdong No. 1 bright copper quotation is 42500 yuan / ton ~ 42800 yuan / ton. Bright copper everywhere was basically the same as last Friday, with the price gap for refined copper rising to 1515 yuan per ton from Friday, local government support for copper rebate policy reduced, and the copper market ticket point adjusted to 5.0 per cent from 6.0 per cent. Zhejiang bright copper tax price reduced by 500 yuan / ton, other scrap copper prices remain unchanged, fine scrap price difference increased significantly, market consumption is on the sidelines, take care of goods.

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